Posting a readers response for GeorgeEaton:

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Re: Hundreds Of Billions In Gold And Cash Are ....

Central Banks Should Not Be Allowed To Own & Hold Hard Assets

I could never understand why we allow central banks to buy gold because when a central bank buys gold it makes an exchange... and what does the central bank give in exchange for the gold it receives? The central bank gives the only thing that a central bank can give, some paper with ink on it which they themselves created. How great it must be to be able to buy real stuff with just pieces of paper with printing on it that you yourself make or acquire at almost zero cost and which paper can only be redeemed for more pieces of similarly printed paper.

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